What is the arithmetic mean of $\frac{2}{5}$ and $\frac{4}{7}$ ? Express your answer as a common fraction.
Solution: To average two real numbers, we sum them and divide by 2: \[ \frac{1}{2}\left(\frac{2}{5}+\frac{4}{7}\right)=\frac{1}{2}\cdot\frac{14+20}{35}=\boxed{\frac{17}{35}}. \]